Skip to main content Accessibility help
×
Hostname: page-component-848d4c4894-p2v8j Total loading time: 0 Render date: 2024-05-01T12:30:59.346Z Has data issue: false hasContentIssue false

2 - Shock Therapy versus Gradualism

Published online by Cambridge University Press:  05 September 2012

Anders Aslund
Affiliation:
Peterson Institute for International Economics
Get access

Summary

The end of communism in Europe was the event of a lifetime. Suddenly twenty-eight countries with 400 million people had to choose their political and economic systems anew. Where should they begin? What was most important? What was possible? What theory should be applied? What policy corresponded to their interests? A frequent point was that no book prescribed how to transition from socialism to capitalism, whereas hundreds elaborated on the opposite, no longer desired, direction. A popular joke compared the transition from communism to capitalism to making an aquarium out of a fish soup.

The discussion became heated from the outset because so much was at stake. The fate of a large part of the world was up in the air. Could and should the former Soviet bloc be embraced by the Western world, or should it be shunned? Could armed conflicts be avoided? How much economic and social hardship would people in these countries have to suffer? Which ideology would win?

Intellectuals of all disciplines and convictions, governments, and international organizations geared up to answer the many questions. Although no clear goal was defined, a strong sense of direction prevailed. The popular battle cry was, “We want a ‘normal’ society!” By “normal,” people in the Soviet bloc meant an ordinary Western society – a democracy with a market economy, predominant private property, and the rule of law.

Type
Chapter
Information
How Capitalism Was Built
The Transformation of Central and Eastern Europe, Russia, and Central Asia
, pp. 29 - 56
Publisher: Cambridge University Press
Print publication year: 2007

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×